Cheap Apartments for Rent in Monona, WI from $600 (97 Rentals)

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Search the lowest-cost Apartments available for rent right now in Monona.

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Colonial Apartments
$1,090 - $1,395
Total Monthly Price

Total Monthly Price

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$1,090 - $1,395
Total Monthly Price
$1,090 - $1,395
1 to 2 Bedroom Apartments Available Now

Colonial Apartments

5424-5430 Monona DrMonona, WI 53716
Cost Per Sq.Ft.
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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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600 Femrite Dr
1 Bedroom Apartments

600 Femrite Dr

600 Femrite DrMonona, WI 53716
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Besa Monona
Studio to 2 Bedroom Apartments

Besa Monona

6501 Bridge RdMonona, WI 53713
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612 Femrite Dr
1 to 2 Bedroom Apartments

612 Femrite Dr

612 Femrite DrMonona, WI 53716
  • Utilities Included
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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Riverwood Apartments
$1,125 - $1,495
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$1,125 - $1,495
Total Monthly Price
$1,125 - $1,495
1 to 2 Bedroom Apartments Available Now

Riverwood Apartments

6417-6431 Bridge RdMadison, WI 53713
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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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property at 107 Rethke Ave

$1,200

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Total Monthly Price

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$1,200
Total Monthly Price
$1,200

2 Bedroom, 1.5 Bath Townhome for Rent

Available Now

107 Rethke Ave

MadisonWI53714
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Coachlight Village
Rent Specials
$1,219 - $1,519
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Total Monthly Price

Base Rent
$1,219 - $1,519
Total Monthly Price
$1,219 - $1,519
1 to 2 Bedroom Apartments Available Now

Coachlight Village

2609-2613 Pheasant Ridge TrlMadison, WI 53713
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Ridgeview Heights
$1,250 - $1,450
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$1,250 - $1,450
Total Monthly Price
$1,250 - $1,450
1 to 2 Bedroom Apartments Available Now

Ridgeview Heights

3154-3166 Ridgeway AveMadison, WI 53704
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Madison's Best Affordable Neighborhoods

Learn about Madison and the best places to live with original content written by our Local Expert Mike Heuer

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Monona, WI Local Guide

Cheapest Available Monona Apartments for Rent

 

The cheapest available apartment rental in Monona, WI is a 2 Beds unit found at Rise-Madison in the Near East Side neighborhood priced from $784. Madison Mayfair Apartments in the Near East Side neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $999. Here is today’s list of the most affordable Monona apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Rise-Madison2 Bed / 2 Bath2BR,2BA$784
Madison Mayfair Apartments1 Bedroom1BR,1BA$999
The Life at Madison Grove2 BED 1 BATH2BR,1BA$1,000
Pirate Island ApartmentsStudioStudio,1BA$1,020
Pheasant Ridge1x11BR,1BA$1,030
Colonial Apartments1 Br1BR,1BA$1,090
Capitol View Apartments1 Bed 1 Bath1BR,1BA$1,090
Mcfarland Williamstown Bay (55+)1 Bedroom1BR,1BA$1,095
Eagle Harbor1 Bedroom 1 Bathroom1BR,1BA$1,100
Mardelle Apartments51BR,1BA$1,100

Best Value Apartments for Rent in Monona, WI

As of May 06, 2026 the best value apartment in the Monona area is the $1.55 price per square foot 3 Bed / 2 Bath Model at Rise-Madison in the in the Near East Side neighborhood starting from $2,030. The second greatest value Monona apartment is the 3x2 Income restricted Model at Carbon at Union Corners starting at $1,811 with a $1.41 price per square foot in the Near East Side neighborhood. Here is today’s list of the best values for Monona apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Rise-Madison3 Bed / 2 Bath3BR,2BA$1.55
Carbon at Union Corners3x2 Income restricted3BR,2BA$1.41
The RoyalA3 Floor Plan (80LMI Income Restricted)2BR,2BA$1.55
Meadows At Liberty Place2-Bed 1-Bath2BR,1BA$1.55
Stonewood Villagesv2brlow2BR,1BA$1.48
Colonial Apartments1 Br1BR,1BA$1.15
Cardinal Place Apts. Call the office now for more information!2x1-cp2BR,1BA$1.51
Dale Street Apartments2 Bed 1 Bath - Heat Included2BR,1BA$1.48
The Life at Madison Grove2 BED 1 BATH2BR,1BA$1.18
Mardelle Apartments51BR,1BA$1.38

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.

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10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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Lakeshore to Lecture Hall: Finding Your Perfect Student Apartment in Madison, WI

Discover the best student housing neighborhoods for renting in Madison, Wisconsin! This guide covers apartments near the University of Wisconsin-Madison, Edgewood University, Herzing University, and Madison Area Technical College, detailing locations like Regent, Shorewood Hills, Dudgeon-Monroe, and more for your perfect college home.

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Monona, WI Area Reviews

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Gwen • 4+ years in Monona

June 8, 2025

Monona is a safe & quiet community close to Madison. It's 8 minutes to the Dane County Courthouse. It's secluded from city life and sits next to 2 walking parks and Lake Monona. It's a wonderful place to live.

Frequently Asked Questions about Cheap Monona Apartments

What is the Cheapest Studio apartment in Monona?

Currently the most affordable Cheap Studio Apartment in Monona is at Pirate Island Apartments listed at $1,020.

How much is rent for a Cheap One Bedroom Monona Apartment?

The lowest price for a Cheap One Bedroom Monona Apartment is $999 at Madison Mayfair Apartments.

What is the lowest price for a Cheap Two Bedroom Monona Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Monona is starting from $784 at Rise-Madison.

What is the most affordable Monona Three Bedroom Apartment?

The best deal on a cheap Monona Three Bedroom Apartment rental is at Madison Mayfair Apartments and starts from $1,300.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Helpful Local Expert Guides

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Experts Guide To 10 Budget-Friendly Neighborhoods to Rent in Madison

Written by: Mike Heuer

I’m Mike, your ApartmentHomeLiving.com local expert for Madison, Wisconsin. I lived and worked in Madison for several years before career opportunities took me elsewhere.

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Lakeshore to Lecture Hall: Finding Your Perfect Student Apartment in Madison, WI

Written by: Mike Heuer

I am Mike, your guide to student housing in the Greater Madison, Wisconsin, area. Madison is a terrific city that also is the Capital of Wisconsin.

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An Insiders Guide to 6 Reasons Why Locals Love Renting in Madison, Wisconsin

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Madison is Wisconsin’s capital city and its second-largest city, with a population of more than 260,000.

Articles, How-To's, and Tips

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

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I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

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This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.